India's Drug Regulator gave permission to Hetero and Cipla to manufacture and market antiviral drug remdesivir for "restricted emergency use" on hospitalised COVID-19 patients, official sources said.
Cipla share price jumped almost 3 percent on June 22 after the country's drug regulator on June 20 gave permission to Hetero and Cipla to manufacture and market antiviral drug remdesivir.
The stock ended at Rs 655.80, up Rs 18.70, or 2.94 percent. It has touched a 52-week high of Rs 696. It traded with volumes of 1,313,721 shares, compared to its five day average of 177,955 shares, an increase of 638.23 percent.
India's Drug Regulator gave permission to Hetero and Cipla to manufacture and market antiviral drug remdesivir for "restricted emergency use" on hospitalised COVID-19 patients, official sources said. This comes a day after the Drug Controller General of India (DCGI), considering the emergency and unmet need for medicines in light of the coronavirus outbreak, granted domestic firm Glenmark Pharmaceuticals the permission to manufacture and market favipiravir for "restricted emergency use" in mild to moderate cases.
The Union health ministry, in its 'Clinical Management Protocols for COVID-19', recommended the use of the remdesivir on patients in moderate stage of the disease that is, those on oxygen. The drug has been included as an "investigational therapy" only for restricted emergency use purposes.
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